Week One How does the statement of functional expenses differ from the
statement of activities? What is the difference between a revenue center and an ...
The FASB does not require the statement of functional expenses for every
nonprofit ... of financial position, the statement of activities, and the statement of
cash flows. ... What is the difference between a balance sheet of a nonprofit
May 17, 2009 ... Statement of Financial Accounting Standard 117 “Financial ... Statement of
Activities (Income Statement / Profit & Loss Statement); Statement ... Statement of
Functional Expenses (for voluntary heath and welfare organizations) ...
financial position, a statement of activities, and a statement of cash flows. ...
organizations continue to provide a statement of functional expenses, which is
useful in ... Not-for-profit organizations currently provide financial statements that
differ in their form ... accounting principles that do not specifically exempt not-for-
Net assets consist of the difference between what you own and what you owe,
and are broken down into donor-restricted ... For instance, depreciation is an
expense in your activities statement but does not require cash. ... Functional
This article explores the statement of activities, its unique design, and the ... and
expenses or expenditures, and often calculates the difference between them. ...
indirect expenses to the functional or programmatic categories, but if they do,
the statements stated in the Form 990 differ from those in audited financial ...
However, the accounting equation does not provide information on how or ..... In
the Statement of Activities, the expenses are divided into three functional
There is no requirement that for-profit organizations must do this. ... b) The
Income Statement of a for-profit is called a Statement of Activities in a nonprofit. ...
d) Most nonprofits are required to present a Statement of Functional Expenses,
Jun 30, 2014 ... We have audited the accompanying financial statements of Habitat for ... and the
related statements of activities, functional expenses and .... Actual results could
differ from those estimates. .... June 30, 2014, there were no homes in default and
the Organization does not expect any of the current mortgages.
Expenses for nonprofit organizations are grouped in functional categories as
either ... The answer has to do with the users of the financial statements. ... as “
supplies expense” on the organization's statement of activities (profit and loss
statement). ... the definitions of the functional categories and the difference in